Search
Close this search box.

Hanoi tightens up offshore remittances

Vietnam
State Bank of Vietnam
Regulatory & Government

(Vietnam) – The Governor of the State Bank of Vietnam is now requiring its city and provincial branches to tighten control over capital withdrawals and remittance of funds in foreign loan repayments of businesses and commercial banks.The Central Bank had previously required businesses to report foreign lending and repayment transactions, after the event, but many have reportedly ignored such reporting requirements, including many of the commercial banks.

Influencing national monetary policies is proving difficult as a result and violators of these new requirements will be hit with administrative fines in future.

Connect
with East

At East & Partners we work together as one firm to serve our clients wherever they need us.

Our collective knowledge and experience across globalĀ  markets helps us guide clients on the intricacies of each region while enabling cohesion across their global footprint. Apples with apples and pears with pears in complex and demanding financial services markets
globally.

Lookup
subscribe
This field is for validation purposes and should be left unchanged.